Renault Group Announces 2024 Year-End Financial Results

Renault Group demonstrated a strong financial performance throughout 2024, achieving a 7.4% increase in revenue, bringing the total to €56.2 billion, alongside a significant rise in operating profit. This success is attributed to the company’s continuous model innovations, customer-centric approach, and strategic advancements in sustainability.

Record-High Financial Performance in 2024

Renault Group achieved remarkable growth across all key financial metrics in 2024:

• Revenue: Increased to €56.2 billion, reflecting a 7.4% rise compared to 2023, or 9% when adjusted for constant exchange rates.
• Operating Profit: Reached a record €4.3 billion, accounting for 7.6% of revenue, marking a €146 million increase from 2023.
• Automotive Operating Profit: Stood at €2.9 billion, equivalent to 5.9% of automotive revenue, compared to €3.051 billion in 2023.
• Net Income (Group Share): Grew 21% year-over-year, reaching €2.8 billion, while the reported net income (Group Share) stood at €0.8 billion.
• Free Cash Flow: Surpassed expectations, reaching €2.9 billion, exceeding the forecasted €2.5 billion, driven by robust operational performance.
• Strong Automotive Net Financial Position: Recorded at €7.1 billion as of December 31, 2024, reflecting a €3.4 billion increase from the previous year.

2024 Financial Year Exceeded Expectations

Metric	2023	Initial 2024 Guidance	Updated 2024 Guidance	Final 2024 Result	YoY Change
Operating Profit Margin	7.9%	≥7.5%	7.8% – 8%	7.6%	-0.3 pp
Free Cash Flow	€3B	≥€2.5B	≥€2.8B	€2.9B	+€141M

CEO Luca de Meo’s Statement

Renault Group CEO Luca de Meo emphasized the company’s ongoing progress, stating:

“Renault Group continues to enhance its operational performance, execute its strategic plans, and achieve its goals. 2024 marked a crucial year, as we reaped the first rewards of our unprecedented product offensive. This performance is the result of an extensive transformation carried out through outstanding collective effort. We have made Renault Group a more agile, efficient, and high-performing company—and we are not stopping here! With a solid foundation built over the past four years and an innovative, forward-looking approach, we are entering a new phase focused on profitable growth while investing in the future. I want to thank our employees for their passion, dedication, and teamwork, which are the key drivers behind our success.”

Looking Ahead: 2025 Targets

With seven new model launches planned for 2025 and a rapid decline in costs, Renault Group aims to further strengthen operational performance and cash flow generation. The company has set the following key objectives for 2025:

• Operating profit margin of at least 7%
• Over €2 billion in free cash flow
• Proposed dividend increase: €1.85 to €2.20 per share (a +19% rise from the previous year), to be presented at the Annual General Meeting on April 30, 2025.